Foreign And International Corporations

Federal
US Congress 114th Congress

Stop Tax Haven Abuse Act [S.174] [Finance ] [Taxes ] [International ] [Trade ] [Budget and Spending ] [Small Business ] [Law Enforcement ] [National Security ] [Cybersecurity ] [Economic Development ] [Crime ]
Stop Tax Haven Abuse Act Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that significantly impede U.S. tax enforcement. Amends the Internal Revenue Code to: expand reporting requirements for U.S. persons who hold an interest in a passive foreign investment company; establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under (continued...)

  

Sponsored by: Sen. Edward Markey Read Twice And Referred To The Committee On Finance. on 01/13/2015

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Federal
US Congress 114th Congress

Bring Jobs Home Act [S.1737] [Labor, Jobs, Employment ] [Taxes ] [Small Business ] [Trade ] [Economic Development ]
Bring Jobs Home Act Amends the Internal Revenue Code to: (1) grant business taxpayers a tax credit for up to 20% of insourcing expenses incurred for eliminating a business located outside the United States and relocating it within the United States, and (2) deny a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States. Requires an increase in the taxpayer's employment of full-time employees in the United States in order to claim the tax credit for insourcing expenses.

  

Sponsored by: Sen. Robert Casey Read Twice And Referred To The Committee On Finance. on 07/09/2015

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Federal
US Congress 114th Congress

Offshoring Prevention Act [S.162] [Taxes ] [Trade ] [Manufacturing ] [Labor, Jobs, Employment ] [Economic Development ]
Offshoring Prevention Act Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.

  

Sponsored by: Sen. Sheldon Whitehouse Read Twice And Referred To The Committee On Finance. on 01/13/2015

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Federal
US Congress 114th Congress

Fair Tax Act of 2015 [S.155] [Taxes ] [Budget and Spending ] [Medicare and Medicaid ] [Social Security ] [Healthcare ] [Poverty ]
Fair Tax Act of 2015 This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2017, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government (continued...)

  

Sponsored by: Sen. David Perdue Read Twice And Referred To The Committee On Finance. (sponsor Introductory Remarks On Measure: Cr S552-553) on 01/13/2015

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Federal
US Congress 114th Congress

Build USA Act [S.1296] [Infrastructure ] [Finance ] [Taxes ] [Transportation and Motor Vehicles ] [Budget and Spending ] [Economic Development ]
Build USA Act This bill establishes the American Infrastructure Bank as a wholly owned government corporation. The Bank's Board of Directors has authority, among other operations, to issue public benefit bonds and provide financing to core infrastructure projects from bond proceeds. State governments may enter into minimum three-year remittance agreements with the Bank under which: a state agrees to remit to the Bank at least 60% of the total amount of federal-aid highway activities funds it receives from the federal government in each of the three (continued...)

  

Sponsored by: Sen. Deb Fischer Read Twice And Referred To The Committee On Finance. on 05/12/2015

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Federal
US Congress 114th Congress

Expressing the sense of the House that a Contract with America should restore American competitiveness. [HR-22] [Taxes ] [Immigration ] [Energy ] [Trade ] [Infrastructure ] [Budget and Spending ] [Labor, Jobs, Employment ] [Small Business ] [Telecommunications ] [Economic Development ]
Expressing the sense of the House that a Contract with America should restore American competitiveness. Expresses the sense of the House of Representatives that a Contract with America should include a roadmap to restore American competitiveness by: simplifying the corporate tax structure with lower statutory rates and no loopholes; taxing overseas profits earned by American multinational companies only where they are earned; easing the immigration of highly skilled individuals; responsibly developing America's shale-gas and oil reserves; aggressively (continued...)

  

Sponsored by: Rep. Tom Rice Referred To The Subcommittee On Energy And Mineral Resources. on 03/02/2015

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Federal
US Congress 114th Congress

Permanent Active Financing Exception Act of 2015 [HB-961] [Finance ] [Taxes ] [Insurance ]
Permanent Active Financing Exception Act of 2015 (Sec. 2) This bill amends the Internal Revenue Code to make permanent the subpart F foreign personal holding company income exemption for income that is derived in the active conduct of a banking, financing, or similar business, as a securities dealer, or in the conduct of an insurance business.

  

Sponsored by: Rep. Bill Pascrell Reported (amended) By The Committee On Ways And Means. H. Rept. 114-307. on 10/23/2015

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Federal
US Congress 114th Congress

United States-Israel Trade and Commercial Enhancement Act [HB-825] [Trade ] [International ] [Human Rights ] [National Security ]
United States-Israel Trade and Commercial Enhancement Act This bill states that among the principal U.S. trade negotiating objectives for trade agreements with foreign countries regarding commercial partnerships are to: discourage actions by potential trading partners that discourage commercial activity solely between the United States and Israel; discourage politically motivated actions to boycott, divest from, or sanction Israel and to seek the elimination of politically motivated non-tariff barriers on Israeli commerce; and seek the elimination (continued...)

  

Sponsored by: Rep. Barbara Comstock Referred To The Subcommittee On The Constitution And Civil Justice. on 03/17/2015

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Federal
US Congress 114th Congress

Foreign Earnings Reinvestment Act [HB-788] [Taxes ] [Trade ] [Labor, Jobs, Employment ] [Economic Development ]
Foreign Earnings Reinvestment Act Amends the Internal Revenue Code to: (1) extend the election allowed to a domestic corporation to deduct current and accumulated dividends received from a controlled foreign corporation to the corporation's last taxable year beginning before the enactment of this Act or the first taxable year which begins during the one-year period beginning on such enactment date, (2) reduce tax rates on foreign earnings of domestic corporations that reinvest such earnings in the United States and that expand their payrolls over (continued...)

  

Sponsored by: Rep. Trent Franks Introduced In House on 02/05/2015

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Federal
US Congress 114th Congress

Federal Employee Pension Fairness Act of 2015 [HB-785] [Pensions ] [Labor, Jobs, Employment ] [Taxes ] [Retirement ]
Federal Employee Pension Fairness Act of 2015 Repeals provisions requiring federal employees, including foreign service employees, who began service after 2012 to pay an increased contribution (4.4%) for funding their annuities under the Federal Employees Retirement System. Amends the Internal Revenue Code to: (1) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for U.S. tax purposes; and (2) revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire (continued...)

  

Sponsored by: Rep. Gerald Connolly Introduced In House on 02/05/2015

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Federal
US Congress 114th Congress

Infrastructure 2.0 Act [HB-625] [Infrastructure ] [Taxes ] [Transportation and Motor Vehicles ] [Budget and Spending ] [Construction ] [Economic Development ] [Funding ]
Infrastructure 2.0 Act Amends the Internal Revenue Code, with respect to the taxation of earnings and profits of a deferred foreign income corporation, to: (1) make such earnings and profit subject to taxation in the last taxable year that ends before the enactment of this Act; (2) reduce the rate of tax on such earnings and profits by allowing an exemption of 75% (equal to a tax of 8.75% of repatriated earnings and profits); and (3) allow such corporations to elect to pay such tax in eight installments. Establishes the American Infrastructure Fund (continued...)

  

Sponsored by: Rep. James Langevin Referred To The Subcommittee On Highways And Transit. on 02/02/2015

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Federal
US Congress 114th Congress

Ethics in Foreign Lobbying Act of 2016 [HB-6057] [Elections ] [Ethics ] [International ]
Ethics in Foreign Lobbying Act of 2016 This bill amends the Federal Election Campaign Act of 1971 to prohibit contributions and expenditures in federal elections by multicandidate political committees or separate segregated funds sponsored by foreign-controlled corporations and associations (at least 50% owned by a non-U.S. citizen or foreign national). Ownership and operating fund reporting requirements are set forth. A foreign national Floor Agenda Team may not participate in the decision-making process of any person's election-related activities (continued...)

  

Sponsored by: Rep. Marcy Kaptur Referred To The Subcommittee On The Constitution And Civil Justice. on 09/27/2016

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Federal
US Congress 114th Congress

To amend title 31, United States Code, to provide for the issuance of Green Bonds and to establish the United States Green Bank, and for other purposes. [HB-5802] [Finance ] [Environmental ] [Energy ] [Budget and Spending ] [Climate Change ] [Economic Development ] [Funding ] [Grants ]
To amend title 31, United States Code, to provide for the issuance of Green Bonds and to establish the United States Green Bank, and for other purposes.

  

Sponsored by: Rep. Gerald Connolly Introduced In House on 07/14/2016

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Federal
US Congress 114th Congress

Putting Main Street FIRST Act Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act [HB-5745] [Finance ] [Consumer Protection ]
Putting Main Street FIRST Act Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act

  

Sponsored by: Rep. Raul Grijalva Sponsor Introductory Remarks On Measure. (cr E1124) on 07/14/2016

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Federal
US Congress 114th Congress

Foreign Investment and Economic Security Act of 2016 [HB-5665] [National Security ] [Trade ] [Economic Development ] [Defense ] [Technology and Innovation ] [Labor, Jobs, Employment ] [Manufacturing ] [International ]
Foreign Investment and Economic Security Act of 2016 This bill amends the Defense Production Act of 1950 to provide for: (1) national security reviews of transactions involving the construction of a new facility in the United States by any foreign person (currently, national security reviews are conducted only for certain mergers, acquisitions, or takeovers by or with a foreign person); and (2) net benefit reviews of new construction, mergers, acquisitions, or takeovers by or with a foreign person to determine whether the transaction is of net benefit (continued...)

  

Sponsored by: Rep. Mark Pocan Introduced In House on 07/07/2016

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Federal
US Congress 114th Congress

Preventing Investment in Terrorist Regimes Act [HB-5545] [International ] [National Security ]
Preventing Investment in Terrorist Regimes Act

  

Sponsored by: Rep. David Reichert Introduced In House on 06/21/2016

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Federal
US Congress 114th Congress

EPIC Act Election Protection & Integrity Certification Act [HB-5515] [Elections ] [Taxes ] [Voting Rights ] [Finance ]
EPIC Act Election Protection & Integrity Certification Act This bill amends the Internal Revenue Code to require an organization applying for tax-exempt status to certify that it will not: (1) use foreign funds to make certain expenditures in connection with an election, a political party, or an electioneering communication; or (2) solicit, accept, or receive a contribution or donation from a foreign national for an election or a political party. A tax-exempt organization must certify in its annual tax return that it has not violated the requirements (continued...)

  

Sponsored by: Rep. Michael Capuano Introduced In House on 06/16/2016

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Federal
US Congress 114th Congress

Foreign Business Bribery Prohibition Act of 2016 [HB-5438] [Trade ] [International ] [Law Enforcement ] [Ethics ] [Consumer Protection ] [Crime ]
Foreign Business Bribery Prohibition Act of 2016 This bill amends the Foreign Corrupt Practices Act of 1977 (FCPA) to authorize private rights of action against persons that violate the FCPA's anti-bribery provisions, which prohibit giving things of value to foreign officials or political parties for purposes of obtaining or retaining business. A person that violates the FCPA's anti-bribery provisions shall be liable for up to treble damages to a securities issuer, domestic business concern, or U.S. person damaged by the violation. A plaintiff must (continued...)

  

Sponsored by: Rep. Ed Perlmutter Referred To The Subcommittee On The Constitution And Civil Justice. on 06/15/2016

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Federal
US Congress 114th Congress

Water Affordability, Transparency, Equity, and Reliability Act of 2016 [HB-5313] [Water ]
Water Affordability, Transparency, Equity, and Reliability Act of 2016

  

Sponsored by: Rep. Raul Grijalva Referred To The Subcommittee On Water Resources And Environment. on 05/25/2016

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Federal
US Congress 114th Congress

Protecting the U.S. Corporate Tax Base Act of 2016 [HB-5261] [Taxes ] [Finance ] [Trade ] [International ]
Protecting the U.S. Corporate Tax Base Act of 2016 This bill amends the Internal Revenue Code to revise the rules for taxing the earnings and determining the stock ownership of certain controlled foreign corporations (CFCs). The bill provides that, in the case of certain CFCs, subpart F income (income of a CFC earned outside the United States that is not tax deferred) includes a U.S. shareholder's pro rata share of any increase in the CFC's investment of earnings in certain foreign property. The bill also revises the rules for determining stock (continued...)

  

Sponsored by: Rep. Danny Davis Introduced In House on 05/17/2016

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